Hanscom Federal Credit Union has entered into a definitive agreement to acquire the majority of Peoples Bancorp, Inc.'s assets and liabilities, enhancing its market presence and asset size in an all-cash transaction expected to be finalized in the second half of 2025.

Information on the Target

Peoples Bancorp, Inc. (OTCPK: PEBC) is the holding company for The Peoples Bank, a financial institution that has served its community for several years. The bank has built a reputation for providing a range of financial services to individual and business customers in its region.

In a strategic move, Peoples has entered into a definitive purchase and assumption agreement with Hanscom Federal Credit Union (HFCU). Under this arrangement, Hanscom will acquire the majority of Peoples Bank's assets and liabilities in an all-cash transaction. This decision reflects a significant shift in the operational landscape for Peoples, positioning it for a future focused on asset liquidation and shareholder distribution.

Industry Overview in the Target’s Specific Country

The banking industry in the United States is characterized by a high level of competition among financial institutions, ranging from large national banks to local credit unions. The ongoing evolution in consumer preferences towards d